HELSINKI, April 17, 2019 (Press Release) -Kemira Oyj announced today the signing of a EUR 400,000,000 five (5) year multicurrency revolving credit facility (“RCF”), with two one-year extension options. The RCF’s margin will increase or decrease dependent on Kemira meeting three sustainability key performance indicators (“KPI”), namely:
- The share of revenue from products used for use-phase resource efficiency
- Carbon efficiency
- EcoVadis sustainability rating
SEB and Nordea acted as Coordinating Mandated Lead Arrangers and Bookrunners whilst BNP Paribas, Citi, Commerzbank, Danske Bank, OP Corporate Bank and Swedbank joined as Mandated Lead Arrangers and Bookrunners.
Tying the RCF to sustainability performance highlights Kemira management’s awareness of potential risks from material sustainability issues while focusing its business on future growth opportunities. We also feel it is important to display to our stakeholders that Kemira is prepared for both the opportunities and risks associated with climate change.
“This is a win-win for Kemira and our financiers. We get access to a discount if we meet all our sustainability targets, and the banks in the long run get a lower risk profile for their investment.” said Petri Castrén, CFO.
“This RCF is an important step to embed corporate responsibility into the financing strategy of Kemira and shows our commitment to contribute, with our customers, to a more sustainable economic system.” said Rasmus Valanko, Corporate Responsibility Director.
Kemira is a global chemicals company serving customers in water intensive industries. We provide best suited products and expertise to improve our customers’ product quality, process and resource efficiency. Our focus is on pulp & paper, oil & gas and water treatment. In 2018, Kemira had annual revenue of around EUR 2.6 billion and 4,915 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.